The Bitcoin Foundation Reported $4.6 Million in Losses
The Bitcoin Foundation reported a $4.6 million loss in the past ten months, mostly due to increasing monthly expenses on conferences and the tumbling price of bitcoin. According to Founding Director Jon Matonis, most of the funds that weren't spent on core development were used to fund conferences for the bitcoin community. In the previous year, tax documents showed that employee compensation, conference costs and legal fees as the largest expenditures. In 2013, The Bitcoin Foundation had been spending around $150,000 each month. The Bitcoin Foundation Losses. Documents for 2014 haven't....
Related News
It has been found out that the losses faced by the MyCoin customers were exaggerated in their initial estimates of $300m+ USD. According to The Hong Kong Commercial Crime Bureau (CCB), the earlier reported amount was entirely miscalculated. The agency issued fresh reports that spoke of 43 victimized investors that might have tapped out between $HK50,000 to $HK1.5 million before the oldfangled Ponzi company disappeared. That estimates the total loss amount to be near $8 million, versus the whopping $387 million that was earlier reported by Hong Kong press. The estimate has clearly been....
Bitcoins and Trade Beads. Bitcoin, the foremost cryptocurrency, has, in the past five years, enjoyed a meteoric rise; it has been seen to be, to coin a phrase, a phenomenal success. However in the recent past some observers have voiced concerns, and it is the role of the Bitcoin Foundation in seeking to deal with these concerns that I wish to seek to address. Perhaps, I simply don't see the complexities that may be involved and the simplistic solutions, which most people would find to be blindingly apparent, will turn out not to work. If this is the case, please feel free to tell me. On....
Meta (formerly Facebook) officially declared its entry into the metaverse space last year with the Reality Labs division. Its announcement had understandably triggered the popularity of metaverse projects and their tokens during this time, as a lot went on to rally to billions of dollars in market cap. However, while Meta had been able to trigger positive growth for other metaverse projects, it has been unable to do so for itself as it reports another quarter of massive losses. Meta’s Reality Labs Records Losses Since Meta’s entry into the space via its Reality Labs division, the tech....
On Thursday, the Near Foundation announced the project has raised $150 million from strategic investors such as Three-Arrows Capital, a16z, Mechanism Capital, Dragonfly Capital, and Circle Ventures. Following the announcement, the Near protocol’s native crypto asset jumped more than 7% against the U.S. dollar.
Near Foundation Gets a $150 Million Capital Injection
The team behind the sharded Near blockchain protocol, a proof-of-stake (PoS) network, has raised $150 million in capital in a recent finance round led by Three-Arrows Capital. According to the funding....
According to an internal document obtained by Bitcoin Magazine, the Bitcoin Foundation is considering splitting into two separate organizations. Under this proposal, an entirely new entity would be created to fund core development (the Bitcoin Foundation's current focus), while a slimmed-down Foundation would continue as a promotional organization supported by its current membership. This pivot would return the Foundation to its original vision in a bid to ensure its survival. The internal document cites the many challenges that the Foundation has faced, including reputational damage,....